US Debt Exceeded $ 30 Trillion Today For The First Time

Date: Feb 05, 2022, 13:22

US Treasury Department statistics show that public debt, or US government debt, crossed the $ 30 trillion mark for the first time today due to high borrowing during the Corona epidemic.

According to the Memar Vahdat news agency; According to US Treasury Department statistics, public debt, or US government debt, crossed the $ 30 trillion mark for the first time today due to high borrowing during the Corona epidemic.

Japan and China, each with $ 1.3 trillion and $ 1.08 trillion in US Treasury, respectively, remain the largest foreign creditors of the United States and are creditors of interest on all money borrowed from them.

The United States owes about $ 8 trillion to foreign institutions (excluding Japan and China), including those from the United Kingdom, Ireland, Brazil, Canada, France, India, Belgium, Taiwan, and Hong Kong.

The US government also owes $ 6.5 trillion to its Social Security Fund and its Military Reconciliation Fund.

This shocking figure is far-fetched, as US officials and economists have been unable to predict the Corona epidemic and its aftermath, which has increased government spending and subsequent national debt by $ 7 trillion since the end of 2019. It was achieved sooner than expected.

The US budget deficit for fiscal 2021 totaled $ 2.77 trillion, which is slightly less than last year's record, but still in line with Corona's large spending.

 



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